Saturday, November 24, 2007

Hackers cause loss of $400b a day

Hackers around the world could cause losses of a mind-boggling $400 billion every day, Bahrain-based Zain Chief Executive Officer Dr Saad Al Baraak revealed. Speaking at the third session of the Middle East Homeland and Global Security Forum, Dr Baraak said telecom companies lose anywhere between 10 to 15 per cent of their revenue every day because of violations committed by mobile phone users.

Now I have mused on a few occassions the $ numbers used in situations regarding potential or actual losses. Of course, up until now, my favourites has always been the RIAA and IPFI, whose piracy arguments and figures just don't add up. But, this new figure puts them both to shame. How does the average person get their head around a $400 billion loss EVERY DAY. I mean, we are talking numbers that put the Gross Domestic Product of most countries to shame.

Of course, this estimate comes with a disclaimer. Those two magic words - could cause - allow any dollar number to be used. Fact or fictional - it doesn't matter - because it is something that can never be proven or disproven. This statement has grabbed a few headlines, but with what credibility?

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